I get it; you can't afford the monthly payments on your NJ CLASS student loans. You're getting further and further behind, HESAA is sending you letters demanding payment that you're afraid to open because there is nothing you can do, and you are teetering on the brink of default (if not in default already). So you ignore the problem, hoping it will go away.
Unfortunately, that is the oppposite of what you should do!
Default is Bad!
Why? Because once you are in default, there is no getting out. Upon default, you and/or your cosigner(s), if any, are liable for the entire balance of the loan. This is called balance acceleration. In other words, you no longer owe just the delinquent payments; you owe the entire loan balance!
Upon default, HESAA will notify all three credit bureaus of this negative information. Additionally, default may result in an administrative garnishment of your wages, loss of your income tax refunds or rebates, a lawsuit that will add attorney's fees of up to 30% of the loan balance, the suspension of any occupational or professional licenses (are you a doctor, lawyer or engineer?), and more!
But wait, it gets worse!
You are not the only one who is in jeopardy, however. Chances are, one or both of your parents (or another relative) have cosigned for you, and are now facing the same consequences! This has probably led to some major stress in your family. Do you dread:
- The next Thanksgiving dinner?
- That Fourth of July cookout?
- Christmas or Easter Dinner, Passover Seder or Hannukah Party?
Then imagine how much worse it would be if as a result of that lawsuit, their wages were garnished, bank accounts were levied, or tax refunds were taken away? You need to act quickly!
Don't Wait Until It's Too Late!
If HESAA has already levied on your bank account or served you with an information subpoena, then it is only a matter of time before they seek to attach your wages. Once that happens, it is next to impossible to negotiate a deal for monthly payments! A garnishment gets them monthly payments enforced by your employer, so why should they take less from you (or your parents)?
Let Me Take That Stress Away!
Wouldn't it be great if you could have someone take that weight off your shoulders and find a solution that would remove that stress from your life and that of your family? Even though you might think that there is nothing you can do, that bankruptcy can't discharge the debt, or that an affordable monthly payment is just beyond reach (especially if you have tried to negotiate it yourself), there could still be a solution.
Let me help you! As a student loan attorney who spent many years representing creditors in collection matters, I know how they think. I know what they can do and what they can't do to get your money. In short, I speak "debt collector."
What I Can Do For You
I have also developed a rapport with the law firm representing HESAA in most of South Jersey and have been successful in helping people in your situation. Let me help you to:
- Talk to HESAA's attorney, so you don't have to
- Stop the suit in its tracks
- Negotiate an affordable payment plan
- Prepare and file the necessary paperwork with the court (when there is a lawsuit) to protect your legal rights
- Make getting together with family and loved ones enjoyable again!
Contact me today to ease the stress, mark this problem DONE, and get on with your life!
Don't put it off! If you have decided that you need to do something about this and you need to take action, and you live in Camden, Gloucester, Salem, Burlington or Cumberland counties, feel free to call my office at 856-432-4113 to schedule an appointment or contact me by e-mail. I charge a reasonable flat fee for this service, so you will know up front what it costs. You need to act now; the longer you wait, the fewer options are available!
Get More Information! Free!
Looking for more information? Then check out the information in my free book, Paying for Your Classes with a CLASS Loan: A Survival Guide to HESAA. It will tell you about all of your options and which one might work for you!